In 2019, the City Council approved Fiscal Sustainability as a Citywide priority and they adopted a workplan(PDF, 249KB) to address this long-range goal on April 27, 2019. Fiscal Sustainability is the ability of the City to provide ongoing services while maintaining its finances at a credible and serviceable position, balancing resources and the cost of doing business over the near-, medium-, and long-term. The adopted workplan continues to provide a blueprint for proactive progress towards fiscal sustainability for the City of Palo Alto ensuring that the City can provide high-quality services that meet the expectations of the community.
The workplan details actions, including proactive funding contributions for the city’s long-term liabilities for both pension and Other Post-Employment Benefits (OPEB), and strategies to structurally balance the General Fund’s…
